Forex: GBP/JPY advances above 154.50

FXstreet.com (San Francisco) - After retracing from the highest level since August 2009 at 154.77 to find support at 154.15, the GBP/JPY is trading in recovery mode and currently it is pricing above the 154.00 level again.

With the GBP/JPY trading at 154.55, 0.25% above opening price, the pair is trading slightly bullish with indicators such as MACD, CCI and Momentum pointing to the north while the Stochastic is bearish in the 15-minute chart.

Above 154.50, resistances are at 154.80 and 155.00. On the downside, supports are at 154.15, 153.95 and 153.75.